Mortgage Fine Print

Many people overlook understanding mortgage fine print. Majority of consumers focus just on the interest they get for the term however do not look at what the fine print could do for them. Let’s review a few things: 1. Prepayment options: There are many out there but here is a…

Mortgage Meeting

Prepping for Your Mortgage Broker Meeting Prepping for your mortgage broker meeting requires a little knowledge and a few documents. Understanding what it takes to get approved is very important. You will want to review a few areas to make sure you are ready. 1. Employment – You will need…

Appraisals vs Inspections

An appraisal vs Inspection, what is the difference? An appraisal is completed by a certified property appraiser. It determine's the value of the property. It isn’t always required however it is the lenders choice. Appraisals are usually required when there is more than 20% down payment thus avoiding the insurance…

Steps to Homeownership

Steps to Homeownership There are many steps to homeownership before getting the keys to a new home, and the biggest challenge these days is getting approved. Typically, most buyers would visit their local bank however in today's changing environment, mortgage brokers have more options to help secure a mortgage. Let’s…

Fixed vs Variable Costs?

Fixed vs Variable Costs? Which is Better? Understanding the differences between a fixed-rate mortgage and a variable rate mortgage is important when considering a loan. Whether you are buying, refinancing, or doing a debt consolidation, understanding the differences between fixed and variable interest rates can help save you money and…

Covid 19, Defer Mortgage

How to stop Mortgage Payments during the Covid 19 (Corona Virus Crisis) To proactively ward off damaging your credit there is a Federal support program in place that you can stop or defer payments if you reach out to your current banks (lenders) directly. Preserving the stability of the housing…

Legal Separation?

Separating from a spouse is emotionally draining. This is often compounded when the largest asset in many relationships, the matrimonial home, is a factor. Sometimes, both parties want to sell and buy new homes but other times, one person may want to keep the home and pay their Ex out…

Prime Rate Drops

As you know, your variable rate mortgage, line of credit and/or student loans are all based on the Prime Rate and here is your personal update from me on the recent Bank of Canada announcement on changes to their Overnight Rate which in most cases impacts your Prime Rate. At…
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